Marine Harvest sees record 2Q earnings

By

SeafoodSource staff

Published on
July 15, 2014

Norway-based Marine Harvest on Tuesday reported its highest recorded quarterly earnings.

Operational EBIT was about NOK 1.2 billion for the second quarter of 2014, compared to NOK 901 million in the second quarter of last year. The salmon-farming giant’s total harvest volume reached 109,000 metric tons (MT).

Norway accounted for 69,000 MT, Scotland for 18,000 MT, Canada for 7,000 MT and Chile for 16,000 MT. The company expects to harvest 417,000 MT for the year. Total operational EBIT per kilogram were Norway at NOK 12.10 (USD 1.95, EUR 1.43), Scotland at NOK 12.1, Canada at NOK 11 (USD 1.78, EUR 1.30) and Chile at NOK 5.4 (USD 0.87, EUR 0.64).

The company’s full second quarter report will be released at the end of August.

Marine Harvest also announced it refinanced its existing bank loans with a senior secured five year EUR 425 million (USD 579 million) multicurrency revolving credit loan with its existing lenders DNB, Nordea, Rabobank and ABN AMRO.

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